Financial Information Flashcards
Data
distinct pieces of information
Information
output of data processing system
Big data
huge amounts of data characterised by increase in volume, velocity, veracity and variety
Qualities of good information (ACCURATE)
Accurate Complete Cost-beneficial User-targeted Relevant Authoritative Timely Easy to use
Data analytics
collecting, organising and analysing large sets of data to discover patterns
Structured data
obtained with a particular purpose
Unstructured data
obtained without a particular purpose
Captured data
created passively from unrelated activities e.g. smartphone tracking
User-generated
data created and voluntarily placed online
Framework for preparation and presentation of FS is published by…
International accounting standards board (IASB)
Effective, information processing (CATIVA)
Completeness Accuracy Timeliness Inalterability Verifiability Assessability
Information systems
systems and procedures involved in collection, storage, production and distribution of information
Information technology
equipment used to capture, store, transmit or present information
Secure information system (ACIANA)
Availability Confidentiality Integrity Authenticity Non-repudiation Authorisation
Management accounting
providing information to assist decision making
